Bithumb Suspends BERA Deposits and Withdrawals for Berachain Network Upgrade

Bithumb, one of South Korea’s leading cryptocurrency exchanges, has announced a temporary suspension of BERA token deposits and withdrawals starting at 09:00 UTC on August 27 to support an upcoming Berachain network upgrade [1]. This decision is part of routine operational procedures designed to ensure the security and integrity of transactions during major network enhancements. The suspension will prevent any potential errors or fund loss that could occur if transactions are processed while the network undergoes structural changes [1].

The BERA token, which operates on the Berachain network, is set to undergo significant technical improvements aimed at enhancing performance, strengthening security, and potentially expanding functionalities. Such upgrades are critical for the long-term sustainability and efficiency of blockchain ecosystems. Exchanges like Bithumb temporarily pause specific services during these periods to facilitate seamless transitions and safeguard user assets [1].

All BERA token holders on the Bithumb platform are affected by this suspension. Users are advised to complete any necessary deposits or withdrawals before the 09:00 UTC deadline to avoid disruptions. Once the suspension is in effect, any BERA transactions—whether incoming or outgoing—will not be processed until the upgrade is fully implemented and services are reinstated by Bithumb [1].

The move underscores Bithumb’s commitment to maintaining a secure and stable trading environment. It is a standard practice across the industry to pause transaction activity for tokens undergoing major network upgrades. By doing so, the exchange ensures that the updated system is functioning correctly before allowing further user activity [1].

Bithumb has emphasized the importance of staying informed, urging users to monitor official announcements for updates on the Berachain upgrade and the resumption of services. This proactive communication helps users make informed decisions and manage their assets effectively during transitional periods [1].

Users should understand that while such suspensions can be inconvenient, they are essential for the broader development of blockchain infrastructure. The Berachain upgrade is a step toward a more robust and secure network, benefiting the entire BERA token ecosystem [1].

Source: [1] Bithumb BERA Suspension: Urgent Update on Berachain Upgrade (https://coinmarketcap.com/community/articles/689d3d19f4257750660a9188/)